Policy & the Economy
![Being uncomfortably hot makes us less likely to help.](/imager/clientcontent/36143/heat-and-helping_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/36143/heat-and-helping_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/36143/heat-and-helping_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
July 3, 2018
Take 5: What Science Says about Your Summer Vacation
Kellogg faculty explore the psychology and economics of common travel conundrums.
Achal Bassamboo, Kent Grayson, Thomas N. Hubbard, Maryam Kouchaki, Martin Lariviere and Derek D. Rucker
![Hospitalization hurts your credit.](/imager/clientcontent/125217/Notowidigdo_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/125217/Notowidigdo_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/125217/Notowidigdo_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
July 3, 2018
Even for the Insured, a Hospital Stay Has Surprising Costs
The long-term financial toll extends far beyond medical bills.
Carlos Dobkin, Amy Finkelstein, Raymond Kluender and Matthew J. Notowidigdo
![A soybean seed led Brazilian farm workers to industrialized jobs.](/imager/clientcontent/116234/Brazilian-soybeans_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/116234/Brazilian-soybeans_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/116234/Brazilian-soybeans_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
June 4, 2018
How a Genetically Modified Soybean Helped Modernize an Economy
As Brazil’s farms became more efficient, workers shifted to manufacturing.
Paula Bustos, Bruno Caprettini, Jacopo Ponticelli and Gabriel Garber
![People visit a bank](/imager/clientcontent/108393/bank_final_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/108393/bank_final_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/108393/bank_final_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
May 8, 2018
How to Make Economic Development More Inclusive
Two finance experts discuss the need to tailor strategies to specific underserved communities.
Janice C. Eberly and Don Graves
![A man picks potatoes, which helped bring peace](/imager/clientcontent/106491/Potatoes-picking_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/106491/Potatoes-picking_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/106491/Potatoes-picking_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
May 2, 2018
How the Potato Ushered in an Era of Peace
Its arrival in Europe had consequences that went far beyond diet.
Murat Iyigun, Nathan Nunn and Nancy Qian
![Social mobility and democracy](/imager/clientcontent/100019/social-mobility_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/100019/social-mobility_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/100019/social-mobility_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
April 5, 2018
Is Social Mobility Essential to Democracy?
It depends on the size and assumptions of the middle class.
Daron Acemoglu, Georgy Egorov and Konstantin Sonin
![](/imager/clientcontent/92254/corporate-taxes_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/92254/corporate-taxes_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/92254/corporate-taxes_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
March 5, 2018
Does Lowering the Corporate Tax Rate Spur Economic Growth?
Results of a new study have implications for the recent U.S. tax overhaul.
Nir Jaimovich and Sergio Rebelo
![The economic impact of disasters on supply chains.](/imager/clientcontent/81510/earthquake_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/81510/earthquake_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/81510/earthquake_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
February 2, 2018
Localized Natural Disasters Can Hurt an Entire Country’s Economy
A new study helps explain the economic ripple effects on supply chains.
Vasco Carvalho, Makoto Nirei, Yukiko Saito and Alireza Tahbaz-Salehi
![A robot fills out a tax form.](/imager/clientcontent/59377/robottax_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/59377/robottax_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/59377/robottax_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
December 1, 2017
How a “Robot Tax” Could Reduce Income Inequality
This tax can also be part of a plan to improve the economy as a whole.
João Guerreiro, Sergio Rebelo and Pedro Teles
![](/imager/clientcontent/45228/sales-tax_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/45228/sales-tax_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/45228/sales-tax_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
November 2, 2017
How Do People Respond to Sales Tax Increases?
New research shows we aren’t as blasé as economists thought.
Scott R. Baker, Stephanie Johnson and Lorenz Kueng
![Because oil prices are so volatile, oil price forecasts are both useful and necessary.](/imager/clientcontent/35675/oil_final_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/35675/oil_final_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/35675/oil_final_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
July 7, 2017
What Makes Oil Prices So Volatile?
There’s more to the story than OPEC. Plus, how fracking stands to change the market.
Gideon Bornstein, Per Krusell and Sergio Rebelo
![A graduate leaving university with a STEM degree.](/imager/clientcontent/35662/STEM_degrees_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/35662/STEM_degrees_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/35662/STEM_degrees_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
July 6, 2017
STEM Degrees Are Good for Careers. But Do They Lead to More Innovation?
Science, technology, engineering, and math education helps job prospects, but hurts the likelihood of becoming an inventor.
Nicola Bianchi and Michela Giorcelli
![The economic effects of immigration include the spread of prosperity across America.](/imager/clientcontent/35552/emmigration_large_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/35552/emmigration_large_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/35552/emmigration_large_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
June 6, 2017
Does Immigration Help or Hurt Local Economies?
Historically, where immigrants cluster in the U.S., prosperity follows.
Nathan Nunn, Nancy Qian and Sandra Sequeira
![Wealthier Alaskans use annual dividend payments as fun money?](/imager/clientcontent/35373/alaska_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/35373/alaska_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/35373/alaska_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
May 4, 2017
Alaskans Get an Annual Check from the State. How Do They Spend It?
The answer depends on a family’s income, but not in the way many economists expected.
Lorenz Kueng
![School gun violence is linked to the unemployment rate, and can be seen as a symptom to a struggling economy.](/imager/clientcontent/34857/safe_schools_final_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/34857/safe_schools_final_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/34857/safe_schools_final_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
March 6, 2017
School Shootings Rise and Fall with the Unemployment Rate
Researchers set out to quantify gun violence at U.S. schools and made a surprising discovery.
Adam Pah, John Hagan, Andrew L. Jennings, Aditya Jain, Kat Albrecht, Adam J. Hockenberry and Luis A. Nunes Amaral
![A homeowner uses the value of their home to buy things.](/imager/clientcontent/34687/defusco_fina_revised_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/34687/defusco_fina_revised_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/34687/defusco_fina_revised_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
February 3, 2017
Why Are We So Quick to Borrow When the Value of Our Home Rises?
The reason isn’t as simple as just feeling wealthier.
Anthony DeFusco
![Countering the effects of launching a startup in a recession.](/imager/clientcontent/34491/recession_final_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/34491/recession_final_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/34491/recession_final_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
January 5, 2017
Businesses Born in a Recession Tend to Start Smaller and Stay Smaller
Yet there are ways business owners can counter these long-term effects.
Sara Moreira
![Business people use trust to help each other succeed.](/imager/clientcontent/34280/TrustTransact_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/34280/TrustTransact_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/34280/TrustTransact_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
December 1, 2016
Video: How to Establish Trust in Financial Transactions
Hard statistics and an understanding of culture keep the money flowing between lenders and borrowers.
Bruce Carruthers and Paola Sapienza
![Financial advisors give financial advice to clients.](/imager/clientcontent/15881/MelzerFinAdv_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/15881/MelzerFinAdv_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/15881/MelzerFinAdv_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
November 2, 2016
What Good Is a Financial Advisor?
They may have your best interests in mind, but that doesn’t mean their advice is sound.
Stephen Foerster, Juhani T. Linnainmaa, Brian Melzer and Alessandro Previtero
![Tax structure impacts career choice](/imager/clientcontent/15893/taxes_final2_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/15893/taxes_final2_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/15893/taxes_final2_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
November 2, 2016
Higher Taxes Can Make Altruistic Jobs More Attractive
But subsidizing these careers may ultimately do more good.
Benjamin B. Lockwood, Charles Nathanson and E. Glen Weyl
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